If you're entering the real estate investment market for the first time, you're embarking on a great adventure – and with a solid plan, you can turn a tidy profit on your investment. The key to a successful real estate investment is choosing the right property. A great property will reap dividends for years to come. Look for these three features in your next investment property and you'll have no trouble finding one that turns a profit. Location: More Important Than You Think The location of your investment property will be critical in determining how much you earn on it and how long … [Read More...]
The minutes for the most recent meeting of the Federal Reserve's Federal Open Market Committee (FOMC) suggest that while committee members won't specify a date, a rate hike could come sooner than later. Committee members continue to cite concerns over labor markets and other economic factors, but the minutes of the FOMC meeting held July 28 and 29 indicate that a majority of members see a rate change as likely in the near term. Economic Conditions "Approaching" Readiness for Rate Hike According to the minutes released Wednesday, the time for raising rates is not hear yet, but a majority of … [Read More...]
Mortgages are expensive, and closing costs only add to the financial burden that homebuyers face. But with a little knowledge, you can pinpoint places to save on your mortgage closing costs and keep more money in your pocket. When you're negotiating your next mortgage, use these tips to reduce required closing costs and keep more of your hard-earned money. Title Insurance: Request The Simultaneous Issue Rate Title insurance is an important add-on that no buyer should go without. At the time of closing, there may be a variety of title problems that could arise, such as like encroachments, … [Read More...]
If you're moving to a new city and you're looking for an affordable home in a nice neighborhood, one great way to get a fantastic home without paying sky-high prices is by choosing a home in an up-and-coming neighborhood. Communities that are starting to gentrify make it easy to find an affordable home, especially if you buy before the prices start to rise. So how can you spot a neighborhood that's on the rise? Here's what you need to know. Look For Neighborhoods Popular With Artists & Young People Young people, artists, musicians, performers, and other bohemians tend to lead the way when … [Read More...]
Last week's economic reports related to housing were few and far between other than weekly reports on new jobless claims and Freddie Mac's mortgage rates survey. Mortgage Rates Mixed, Jobless Claims UpFreddie Mac reported that average mortgage rates rose for fixed rate mortgages and dropped for 5/1 adjustable rate mortgages. The average rate for a 30-year fixed rate mortgage rose by three basis points to 3.94 percent. The rate for a 15-year fixed rate mortgage rose by four basis points to 3.17 percent. The average rate for a 5/1 adjustable rate mortgage fell by two basis points to 2.93 … [Read More...]
Millennials are finally starting to enter the real estate market, but as is expected with a generation as different as Gen Y, they're buying homes in a completely different way. Millennial buyers intend to own for shorter periods of time and want to live in metropolitan areas, and they're also actively interested in real estate as an investment. If you want to sell your home to a Millennial, you'll need to change the way you stage and market the house in order to make the sale. Here's how you can make your home more attractive to Millennial buyers without having to plan a massive renovation. … [Read More...]
